https://www.taxtmi.com/article/detailed?id=8453 Companies receiving supplies from micro or small enterprise suppliers must file Form 1 MSME half yearly disclosing amounts due and reasons for delay where payments remain due beyond the statutory payment period; an initial return must report outstanding dues as of the notification date with supplier identification and delay reasons, and periodic returns must include the same particulars even if dues were later paid. Supplier status must be verified by submitted Udyog Aadhaar/registration and classification under the MSMED Act; auditors and companies must ensure documentation, disclosure in annual accounts, and tax treatment consistent with the Act's interest and disallowance provisions. en-us Sat, 06 Apr 2019 05:48:47 +0530 Sat, 06 Apr 2019 05:48:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8453 Companies receiving supplies from micro or small enterprise suppliers must file Form 1 MSME half yearly disclosing amounts due and reasons for delay where payments remain due beyond the statutory payment period; an initial return must report outstanding dues as of the notification date with supplier identification and delay reasons, and periodic returns must include the same particulars even if dues were later paid. Supplier status must be verified by submitted Udyog Aadhaar/registration and classification under the MSMED Act; auditors and companies must ensure documentation, disclosure in annual accounts, and tax treatment consistent with the Act's interest and disallowance provisions. Articles Corporate Laws / IBC / SEBI Sat, 06 Apr 2019 05:48:47 +0530 https://www.taxtmi.com/article/detailed?id=8453